LEDSWER · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of LEDSWER is 3.6% (moderate). The 2025 annual accounts show equity of €2k and a net result of €300. Equity is shrinking by ~5.1% per year across the filed fiscal years. Its solvency ranks better than 95% of 3381 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Signals

1 signal · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 95% of 3381 peers (2024). A comfortable equity buffer.

View the sector comparison

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-07-2026, 2 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

How we compute the deadline

The year end is derived from 4 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2025, that is 31-07-2026.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	29-07-2026	2 d early	2026-00371420
31-12-2024	31-07-2025	30-08-2025	30 d late	2025-00486067
31-12-2023	31-07-2024	06-11-2024	98 d late	2024-00532397
31-12-2022	31-07-2023	12-10-2023	73 d late	2023-00488849

Source: the National Bank's deposit records, as we have ingested them. NOTE: our copy has a gap across June to August 2026, missing roughly 220,000 deposits; for July we hold 15,605 of about 137,000 expected. A year whose deadline falls in that window shows as not confirmed, not as not filed. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

More than 3 years active

Founded in 2022, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

3.6% Moderate

0%0,5%1,5%4%10%≥25%

Young company +Higher-failure-rate region +Annual accounts: weaker financial profile +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

Turnover€8k

EBIT margin3.8%

Net result€300-16.7%

Working capital€1k+24.0%

CSV export

Annual accounts & ratios

Source: NBB · 2025

Annual accounts filed on 29-07-2026 with the NBB · fiscal year 2025 · micro schema

RevenueOperating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining At this pace, gross margin would indicatively turn negative around fiscal year 2026, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 46, Wholesale trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	97.7%	25.2%	better than 95% of 3381 sector peers
Equity	€2k	€22k	better than 29% of 3388 sector peers
Total assets	€2k	€105k	better than 5% of 3386 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

Sector position over time

Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).

Solvency P95

Improving position over 2022-2024 · n=2418-3381

Equity P29

Stable position over 2022-2024 · n=2425-3388

Total assets P5

Stable position over 2022-2024 · n=2421-3386

Describes the position versus peers, not a forecast.

Revenue

€8k

- 22-25

EBITDA

€954

- 22-25

Net profit

€300

-16.7% 22-25

Cash flow

€644

- 22-25

Total assets

€3k

+18.7% 22-25

Equity

€2k

+4.3% 22-25

Working capital

€1k

+24.0% 22-25

Income taxes

€60

-79.7% 22-25

Show 11 other metrics

Debt

€318

-96.8% 22-25

Debt ≤ 1y

€18

-99.8% 22-25

Debt > 1y

€300

- 22-25

Current ratio

58.33

+5282.1% 22-25

Quick ratio

58.33

+5282.1% 22-25

Solvency

85.9%

-12.1% 22-25

Debt / equity

0.14

-96.7% 22-25

ROE

13.0%

-14.5% 22-25

ROA

11.2%

+282.2% 22-25

Net margin

3.8%

- 22-25

Interest coverage

63.60

- 22-25

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2025
Deposit	micro schema
Revenue	€8k
EBITDA	-
Net profit	€300
Cash flow	-
Staff costs	-
Income taxes	€60
Dividends	-
Total assets	€3k
Equity	€2k
Debt	€318
of which ≤ 1y	€18
of which > 1y	€300
Working capital	€1k
Employees (FTE)	-

Ratios (computed)

	2025
Current ratio	58.33
Quick ratio	58.33
Working capital ratio	38.5%
Solvency	85.9%
Debt / equity	0.14
Long-term debt ratio	0.13
Interest coverage	-
Gross margin	3.8%
Net margin	3.8%
ROA	11.2%
ROE	13.0%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	1d
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2025

Assets

Fixed assets €960 · 47.8% Current assets €1k · 52.2%

Equity & liabilities

Equity €2k · 85.9% Provisions €60 · 2.2% Debt €318 · 11.9%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025
Balance sheet, Assets
TOTAL ASSETS	20/58	€3k
Fixed assets	21/28	€960
Formation expenses	20	€668
Financial fixed assets	28	€960
Current assets	29/58	€1k
Cash & bank	54/58	€1k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€3k
Equity	10/15	€2k
Contributions / capital	10/11	€2k
Accumulated profits (losses)	14	€300
Provisions & deferred taxes	16	€60
Amounts payable	17/49	€318
Amounts payable after one year	17	€300
Amounts payable within one year	42/48	€18
Trade debts payable within one year	44	€18
Income statement
Turnover	70	€8k
Gross operating margin	9900	€300
Operating result	9901	€300
Financial income	75	€34
Financial charges	65	€34
Result before taxes	9903	€300
Income taxes	67/77	€60
Net result for the period	9904	€300
Result to be appropriated	9905	€300

This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2025 · computed

88 / 100 Excellent

050100

Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Directors

Directors & mandates

2 directors

3 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing below: a director who resigned there may therefore still show here as sitting. See the acts under Publications.

Current directors & mandates

Moutaber Abderrahman
Director
State Gazette act 26034842 (10-03-2026)

Current
10-03-2026 → present

Former directors (1)

Borar M'barek Mohamed
Director
State Gazette act 26034842 (10-03-2026)

Former
- → 10-03-2026

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Handelsbemiddeling in de groothandel in textiel, kleding, bont, schoeisel en lederwaren(46160)
Legal form	Private limited company(610)
Incorporation	22-06-2022
Status	Active
Postal code	1050

Locations & real estate

Registered office

on the map · from the address register

exact location from the address register On OpenStreetMap

2 companies at this address See who is registered here

Parcels1

Ground area129 m²

Buildings1

Building footprint132 m²

Volume (LiDAR)1,535 m³

Tallest building18.5 m · ±4 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Brussels 1 (100%)